At Fat Tiger Think Tank, we bridge research with real-world execution, ensuring businesses, governments, and policymakers have the data, analysis, and strategic frameworks they need to thrive in an evolving global economy.

Thailand, Research Publications Fat Tiger Group Thailand, Research Publications Fat Tiger Group

R&D Spending, Competitive Advantage, and Firm Performance in Thailand

Investment in research and development (R&D) plays a pivotal role in enhancing Thai firms’ competitiveness and overall performance. Evidence from 151 private companies indicates that R&D spending does not directly influence firm performance but exerts a significant positive effect when mediated by competitive advantage.

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Thailand, Research Publications Fat Tiger Group Thailand, Research Publications Fat Tiger Group

Roles of Geographical Heterogeneity on Income Distribution: Empirical Evidence from Thailand

Thailand faces persistent regional income disparities shaped by geographical heterogeneity, according to an empirical study analyzing data from national household surveys and satellite imagery. Using Mincer’s earnings function and the Generalized Method of Moments (GMM), the research found that income levels vary significantly across provinces, with the central region—driven by manufacturing and services—outperforming the agriculture-dependent northern and northeastern regions. Night-time light intensity, used as a proxy for economic activity, confirmed these spatial disparities, showing strong income clustering in Bangkok and surrounding provinces.

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Thailand, Research Publications Fat Tiger Group Thailand, Research Publications Fat Tiger Group

The Double-Edged Sword: Unintended Consequences of Small and Medium-Sized Enterprise Promotion Policy

Thailand’s introduction of a B30-million revenue cap in 2011 to qualify for SME tax incentives has had significant unintended consequences, according to a study by the Asian Development Bank (EWP 778). Using data from all registered Thai firms, it shows that the policy led to pronounced bunching behavior just below the threshold, with firms adjusting operations to maintain SME status.

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Thailand, Research Publications Fat Tiger Group Thailand, Research Publications Fat Tiger Group

A Brief Note on Thailand Household Debt Dynamics, Fisher Effects, and Monetary Policy Transmission

Thailand’s experience illustrates the intricate relationship between monetary policy and household debt, examined through a framework that separates changes in debt into net new borrowing and the Fisher effect. Findings show that monetary policy generates intertemporal trade-offs: while easing measures can relieve short-term debt burdens, they also stimulate long-term debt accumulation.

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Thailand, Research Publications Fat Tiger Group Thailand, Research Publications Fat Tiger Group

Herd Behavior and Firm-Specific Information

Thailand exhibits clear signs of aggregate herd behavior in its equity market, particularly during times of financial turbulence and negative market returns. The study finds that firm-specific information—measured through return residual, return skewness, and information discreteness—plays a pivotal role in shaping such behavior.

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Fat Tiger Think Tank is a dedicated research and advisory hub that drives strategic insights for businesses expanding into Southeast Asia.

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